Month: February 2015

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Filling Rental Vacancies – How to get a tenant in the Winter

for-rent-148891_1280-PDI have had to fill several vacancies already this year.  If you have ever had the opportunity to experience filling rental vacancies, you know it can be challenging.  Especially in the Winter.

When you have 25 tenants that you manage, like i do, you will have tenants move out. And some move out in the Winter.  When the tenants  move out, you need to get a new tenant as soon as possible.  Vacancy is your number one avoidable expense as a landlord.

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Are you getting Your Landlord Discounts (also homeowners)?

Landlord DiscountsThere are a lot of landlord discounts out there.  I often talk with homeowners who are doing remodeling on their home.  They might be buying Sheetrock, paint, appliances or any other remodeling project.  Some of them spend several thousands of dollars on the project and are do it yourself people.  They are generally too frugal (i.e. cheap) to hire a contractor at $100 an hour to do the work, so they do it themselves.

When I ask if they are getting their discounts, they give me a deer in the headlight look.  They know enough to save money on most everything, but not on a remodeling project.

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How to Be a Dream Tenant – Nationally Published Blog Article!

holding-the-keys-PDI was recently featured in a national publication, Money Magazine online.  It was a great honor to have an article I wrote featured on the site.  Since I write for BiggerPockets, one of my posts was picked up and published on Money.

I have noticed that since I now have national recognition, the paparazzi are continuing to follow me.  They seem to disguise  themselves as regular people, and act like I am just another person.  I am sure they have a secret way of following me all around, as I never notice the same person following when I walk just a little bit away.  It must be a secret code they use, similar to a baseball catcher, to switch followers.  Now I know how a celebrity feels…

Keep pets, friends, and bad credit from ruining your shot at a nice rental

If you are a renter, you have many obstacles ahead of you. Landlords are full of horror stories, and you are just another potential horror story. You want and need to be the best renter the new landlord has ever seen.

No landlord really wants you, but they need you. They need you to help them pay their rental mortgage; they need you to help them pay their personal mortgage, they need you to help them retire early. But they do not need you to come around and damage the premise or cause them a lot of extra work. Here is how to be the best renter you can possibly be.

Read the rest of the article here

Money Magazine

Have you ever been declined for a rental?  If so, why do you think you were declined?  
Have you ever lived in a place with neighbors that were impossible?
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Investing after you are a Financially Independent Real Estate Investor

sunset-494544_1920-PDI am a financially independent real estate investor, and always in the market for new investments.  The secret to finding great deals is to be observant, understand what you are investing in, and understanding the risks.  And a bigger key is to be able to actually get into the deal.

If all your capital is used up, you will have to watch others get into deals.  So I have a choice coming, additional investment, or ride off into the sunset with what I have – which is more than enough already.

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January – February 2015 Rental Cash Flow

packs-163497_1280-PD24 of 25 rents were all collected and deposited in the bank by 2/3/2015.  Since I am now 100% full, it was a great month for deposits and rental cash flow.  My one late tenant is the same one as I have every month, and she paid on 2/6/2015.  It was late, and many landlords would be happy to get their rents by the end of the month, let alone the first Friday of the month.

My typical month goes just like that.  If you look at my previous rent collections, you will see that I rarely get any late fees, and I rarely go beyond the second business day of the month to deposit my rents.

How do I do it?  I get great tenants to start with.

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Malware Issue II

criminal-portrait-PDA while back, when I first started this blog, I had a malware issue.  I installed WordFence, and it worked great for a long while.

Just recently, I had another attack.  My hosting provider put my site on hold for a while so I could clean up the issues.  They also offered a ‘security 911’ option that I could pay for and get ‘out of jail’.  They also provided a list of ‘infected’ files that I needed to delete.  There were like 120 of them.

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Landlord Work

plumber-35611_1280-PDIt has been a bit busy here.  There has been a lot of landlord work on the rental front that has been taking a bit of time.  I updated the landlord maintenance log, and added times to the chart.

 All My Rentals are Full (for now…)

I was able to take in a pretty decent renter in my vacant apartment in my duplex.  Now that the winter is over, the calls on the rental seem to be exponentially more in volume.  The tenant had lived at her old place for about 10 years, and was ready to move out of the apartment scene.  She was slightly more risk that my original plan, so I went with a month-to-month lease.  Overall, probably less risk than 90% of tenants, but I saw a few things that I would have preferred to have been different.  The fast move in was one red flag, although that was due to procrastination on her part.

So, February and March 2015 will be a 100% full months, that is the first time since July 2014.

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